tv Forbes on FOX FOX Business November 11, 2012 2:00am-2:30am EST
>> ben, how does the next year look? >> terrible. i a worried. >> on that upbeat note we'll conclude. here is david asbin. >> president obama's big win this week putting a hold on plan to repeal his healthcare law. more companies are warning it is worsening the cuts of jobs and pass on costs to you the consumer. will that halt a chance for a full recovery for our economy. i am david asbin. welcome to forbes on fox. we'll go to teave, and rick and victoria and morgan and elizabeth. stove is not repealing health care law hurt the recovery? >> it will hurt subis it notly. it will hit the bad pars and
no coincidence after the election . taxes are going for individuals and businesses. do they dump the people on medicare and you will see another thing happen, fewer full-time yobs and not catching up in obamacare. >> rick unger, it is not just businesss and folks of businesses making over $150,000.ine those making $50,000 or more it will cost them money . it is going to cost and maybe it is good in the long run but it costs. >> the arguments remind me what we heard in the 60s when fica taxes were doubled to pay for medicare . we survived. you would not imagine calls i have had business owners and cancer survivors it is going to survive and now the law of
the land. we'll talk about it in three years and not going to cost a yob. jobs are going to grow. >> is this a rick unger. are you willing to put money on the bet? >> i am absolutely willing to put my money on it >> mike, in fact they put together a list of people who are going to be affected from different income. it will cost you if you are making $50,000 and $75,000 it is $1600. not just the rich and business owners that pay this. >> no, why is the unemployment rate higher today than when president obama first took office? one of the reason for this companies are not hiring. lookalt tax increases on business. 3.8 percent increase on investment income that kills
maul business. and the uncrease in business tax and tripling of the dividend tax. that is huge costs on the formation of capt capt that go inew businesses or create expanding businesses. this is it the slowest recovery in any recession that is lasted over nine months since the 1930s. >> rick might know maul businesses and i can name at least one who are not happy about it zane oped 40 applebees and projects that will not be possible because of the new costs of labor because of the health care law. >> i will be first to say it will need to be reform would. but you are talking about the smallest business will are tax brea and looking at large businesses. companies like verizon have obsorved and if they are not
hiring it is not to do with obamacare but fiscal cliff. >> didn't we learn from the programs that all of the targeted tax cuts don't work that wel with small businesses? >> no, if you are a maul business owner or a medium large business owner, you want to know that there is nothing in the wayf your business growing and you hiring . this act put road blocks in the way. we are taxing work and capt capt and so we are going to see less hiring because of it i want to high light something steve mentioned earlier and we'll see small businesses shift from full-time workers to part-time it is an obvious thing for them to do and that will be the underemployment problem that we are going on that is not well documented. >> we are talking antidotedly.
and you have the numbers on how itasks small business. >> we are talking about high cost of the affordable care. and i read through the testimony. covs of business is going up 40 percent or higher annually and listen, when you absorb 30 million people in the system and they are not magically paid for out of thin air. but paid for, for bes and taxpayers the part-time work force is growing in the restaurant sector and health care services sector. we drop them below full-time status and we don't have to pay the tax. >> bottom line, businesses are going to have to pay for the new costs somehow. >> david, you know what is fascinating on this show . you used example of the gentlemen who you know owns 40
applebees restaurant. you say that is a maul. you know hold on a second. zane is a great guy and knows business from the ground up d he's talking with other guys who only one one franchise . >> i am sure zane is a great guy. >> it is not just zane but a lot of business owners around the country that are having trouble. >> that is not a small business. ning 40 apple bees are not small. >> there are other examples. >> let's take care your logic. he's not a small business. you would think he would be able to absorb the costs. he can't. if you are talking about a mom and pop shop they can't absorb that either. >> who is likely to be better capable of absorbing
obamacare? small business or corporation. >> corporation, because it is easier to lay off people and keep the productivity. why has this recovery been the worst on record since any recession since the 30s? it is not true, rick. you are saying something that factually incorrect. >> hold on a second. clear your throat. >> the growth coming off of financial recession typically is in between four and six percent. any recession that lasted more than nine months is one and half two percent. why are people are not hiring. because of expenses. >> morgan the president admits it s an anemic recovery. >> we have weak global demand and that is contributing to the fact. >> the chinese faults?
>> that adds to it and seeing weak consumer demand. and that is like the medicine of the europeans have socialized medicine, thank you. >> and besides the demand from the chinese, europeans and americans. maul business are having tough time meeting costs it is it that simple. bottom line is tough to meet. they can't meet the pay rolls and obamacare makes it more difficult. >> i was in anchor age and a guy theroins -- there owns two restaurants . he will not expand the existing ones because it is a burden. they have maul margins and europe and japan they are raising taxs and they their economies are going down. >> we don't have a money bet re.
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stay with fox. before all of the votes were counseled environmentalist pushing president obama to double down on his green agenda. caing for stricter regulation on energy companyings. that could be why energy stocks got pummeled after the election and steve said it is why we get use tod the higher gas prices. >> two big things that hit us on the energy front. one regulatory and epa is frothing at t mouth to reduce gas supply and natural gas that make its easy and cheap now it will bexpensive and rare so get used to it. high prices in the gas pump. >> emac what do you think? >> i agree about the weaker dollar, yes. oil goes up in price and i
agree with steve about the bridge tollburrcrat necessary washington dc wreaking our energy supply. i believe in the natural gas revolution . it is 10 percent of our energy supply here in the united states and creating two million jobs and germany is afraid of how powerful our natural gas energy is. i hope that reduces the discomfort. >> victoria. is natural gas green enoug for the president. it is a fossil fuel . >> not as clean as bird cleaning windows. the president doesn't want high gras -- gas prices. i am not worried about spiking gas prices. what will increase gas prices is turmoil in the middle east and demand from t u.s. consumer . we are not in recovery mde.
and so we are certainly not going to see large spikes in gas prices. >> rick, we have to remember it was the president's energy czar said maybe higher gas prices would b good for the world. >> yeah, never going to let him forget that. have i er told you how smart emac is when her head is screwed on crosscourtly. she had it right. there is it a report out this week that shows initial gas will triple over the next couple of years. that is a big part of the future. the obama administration is supportive of it >> wait, i have to stop you. a lot of natural gas people say the epa has been hard on the natural gas industry and preventing it from growing much more than it has. >> i know environmentalist that would take serious
exception to that. >> of course they would. >> we have been through it before. they clamped down on methane emissions that are bad for us to breathe? is that a terrible thing? the obama administration put in affect air pollution rules and i hope they do that. >> clamp down on the cows in new wreland. >> i don't have much to say about that. >> and the natural gas will continue take an important position in how we develop. and i hope we move forward with green energy but the price of gas will be fine. >> yawn, what do you think? will the new push on green energy keep the gas prices high? >> the world is awash in oil. president obama could cease all drilling. >> so why are gas prices high? >> because they are measured
in t the dollar measure is shrinking hence gasoline prices are high. you have to go to the source which is cheap dollar policy. >> which is ben bernake. >> i can think of three reasons why they are high . administration want fossil fuels the gas pump is it which taxpayer pockets are picked and third thing is the ethnoil atroci. when you you force food in gas tanks it costs more. >> even al gore said he is it against that. >> it is terrible. >> and rick, i have to go back to the issue of natural gas and whether you think it is it green enough for the president and supporters. you think the president could get behind natural gas in the second term? >> the president wants to push
along green energy sources. you may take exception to he is anything but stupid. >> if the president is for nat gas set aside wind and solar. it is costing taxpayer money. >> one word solyndra. >> oh, come o. >> it is my ney wasted. >> do i have to go to the administration that had winners and losers. >> it is not about solyndra but steve, do you think thatlet president could get behind a natural gas policy. >> only rhetorically. he doesn't like fossil fuels and he likes wipped mil which is medevial. sun is not doing it and the wipped mill didn't help us in the storm. >> voters choosing to hike the taxes to avoid a shorter
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washington, deciding to legalize the use of marijuana. you legalize and tax pot to help bring down the debt in the united states. that is the flip side. >> of course we should legalize. we don't want government telling us what is it safe and do with our private lives. it would lead to higher revenues and my only problem there. we have a spending problem and it scares me to hand them more money . >> steve, is it good or bad? >> it is a bad idea. countries that do it find people go in other druggings it is more corruption of the highest other. >> i want to make i got it right. i pulled up cheech and chong. it is this have been legalized a long time ago . it is it all good.
>> mike? it is folly to think it will lower the deficit. raising taxes on cigarettes and gambling it is it a spending problem and give the government more power and money to spend. >> colorado said it would bring in 20 million. >> legalize other things lik big cars and tax the gasoline and legalize. honestly. legalize light bulbs that work i hope it is crenimialized. >> coming up. new worries tt grid lock is here to stay in dc. profit from it with the stocks that heat up.
>> we are back on stocks . we are talking about how preponderance histories might benefit from it. >> gold man sachs. >> bill is it good for obamacare? >> certain politicians think it is wicked and they got a lot of love on tuesday . >> certain politicians think that booze is wicked. you done? >> booze may be wicked but brown forman makes jack
daniels and thantics in congress and the lame duck session will drive us all to drink . >> little jack daniels are not hurting you . >> over the past decade it is expense. and growth prospects are weakening . >> proctor and gamble as american as apple pie. >> it is a rocky market and sweet dividend and growing for last 50 years and a blue chip champion stock. >> yes. it has a dividend tax hike set to happen. >> what about that. we have tripling of taxes on dividends if obama gets what he wants through congress . >> nearly 45 percent. obamacare and dividend taxes are going up. >> is that going to hurt the stock. >> y